16970. First National Bank (Wilkinsburg, PA)

View Charter #4728 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4728
Charter Number
4728
Start Date
March 6, 1933
Location
Wilkinsburg, Pennsylvania (40.442, -79.882)

Metadata

Model
gpt-5-mini
Short Digest
772846b090433894

Response Measures

None

Receivership Details

Depositor recovery rate
98.8%
Date receivership started
1933-12-05
Date receivership terminated
1941-04-30
Share of assets assessed as good
55.9%
Share of assets assessed as doubtful
39.4%
Share of assets assessed as worthless
4.7%

Description

Articles indicate the First National Bank of Wilkinsburg was closed by Presidential order on March 6, 1933 (part of the national banking holiday) and later placed under conservatorship (Mar 26, 1933). By Sept 22, 1934 a receiver (Harry T. Aufderheide) is acting for the bank and suing a depositor, showing the bank remained closed and in receivership. No run is described in the articles.

Events (5)
1. April 19, 1892 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Closed by Presidential order during the national bank holiday at start of March 1933
Newspaper Excerpt
the bank was closed on March 6, 1933, by Presidential order
Source
newspapers
3. March 26, 1933 Other
Newspaper Excerpt
The Pittsburgh Branch of the Federal Reserve Bank of Cleveland has announced the appointment of four more conservators ... the First National Bank of Wilkinsburg, Martin L. Moore; ... Word is awaited here from Washington regarding the duties of the conservators and how much may be paid out of the banks over which they have been appointed.
Source
newspapers
4. December 5, 1933 Receivership
Source
historical_nic
5. September 22, 1934 Receivership
Newspaper Excerpt
The Mine Safety Appliance Company ... was sued for $6,258.54 ... by Harry T. Aufderheide, receiver of the First National Bank of Wilkinsburg. ... the bank was closed on March 6, 1933, by Presidential order that the company was permitted to withdraw its deposits ... the receiver ... demand for the return of the withdrawals ... has not been complied with.
Source
newspapers

Newspaper Articles (2)
1. March 26, 1933 Pittsburgh Sun-Telegraph Pittsburgh, PA
Article from Pittsburgh Sun-Telegraph, March 26, 1933

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Article Text

NAME CONSERVATORS The Pittsburgh Branch of the Federal Reserve Bank of Cleveland has announced the appointment of four more conservators for banks in Western Pennsylvania. They are the First National Bank of Crafton, J. W. Griffin; the First National Bank of Wilkinsburg, Martin L. Moore: the First National Bank of Edinboro, E. P. Campbell and the First National Bank of Plumville, Frank Douglass. Word is awaited here from Washington regarding the duties of the conservators and how much may be paid out of the banks over which they have been appointed. Reorganizations are expected in some of the institutions.

2. September 22, 1934 Pittsburgh Post-Gazette Pittsburgh, PA
Article from Pittsburgh Post-Gazette, September 22, 1934

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Article Text

BANK'S RECEIVER Owner, Owner. SUES DEPOSITOR Seeks Return of Alleged Illegal Withdrawals. The Mine Safety Appliance Company, 201 North Braddock avenue yesterday was sued for $6,258.54 in the United States district court by Harry T. Aufderheide, receiver of the First National Bank of Wilkinsburg. Interest is asked from March 16, 1933. The statement of claims sets forth that the company had $12,517.08 on deposit when the bank was closed on March 6, 1933, by Presidential order that the company was permitted to withdraw its deposits by checking for $3,505.05 March and $9.012.03 on March The receiver, in his statement, that the an illegal preference the rights of deposialso declared that the defendant company legally bound to return money on demand of the comptroller the currency his agent. The declaration made that the demand for the return of the withdrawals, less the amount of dividends depositors 50 per cent, has not been complied with.